REQUIRED Use the information provided below to prepare the Statement of Financial Position of Glendale Limited as at 31 May 2020. Ensure that the statement includes headings for Non-current assets, Current assets, Equity, Non-current liabilities and Current liabilities. The notes to the financial statements are not required. INFORMATION The following balances were obtained from the accounting records of Glendale Limited after all the adjustments and closing transfers were completed on 31 May 2020: Shares in XYZ Limited 600 000 Ordinary share capital 1434 000 Retained income 300 000 Loan: Brits Bank 150 000 Equipment Accumulated depreciation on equipment Inventory Debtors control Provision for bad debts 1 380 000 180 000 210 000 60 000 3 000 Accrued income 6 000 Bank (DR) 69 000 6 000 135 000 Cash float Creditors control Accrued expenses South African Revenue Services: Company tax payable Shareholders for dividends (Dividends payable) 42 000 15 000 72 000 Additional information R30 000 of the loan balance of R150 000 is expected to be repaid during the next financial year.
REQUIRED Use the information provided below to prepare the Statement of Financial Position of Glendale Limited as at 31 May 2020. Ensure that the statement includes headings for Non-current assets, Current assets, Equity, Non-current liabilities and Current liabilities. The notes to the financial statements are not required. INFORMATION The following balances were obtained from the accounting records of Glendale Limited after all the adjustments and closing transfers were completed on 31 May 2020: Shares in XYZ Limited 600 000 Ordinary share capital 1434 000 Retained income 300 000 Loan: Brits Bank 150 000 Equipment Accumulated depreciation on equipment Inventory Debtors control Provision for bad debts 1 380 000 180 000 210 000 60 000 3 000 Accrued income 6 000 Bank (DR) 69 000 6 000 135 000 Cash float Creditors control Accrued expenses South African Revenue Services: Company tax payable Shareholders for dividends (Dividends payable) 42 000 15 000 72 000 Additional information R30 000 of the loan balance of R150 000 is expected to be repaid during the next financial year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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